Insurance markets in everything

by on September 13, 2006 at 6:42 am in Economics | Permalink

CIA counterterrorism officers have signed up in growing numbers for a
government-reimbursed, private insurance plan that would pay their
civil judgments and legal expenses if they are sued or charged with
criminal wrongdoing, according to current and former intelligence
officials and others with knowledge of the program.

The new enrollments reflect heightened anxiety at the CIA that officers
may be vulnerable to accusations they were involved in abuse, torture,
human rights violations and other misconduct, including wrongdoing
related to the Sept. 11, 2001, attacks. They worry that they will not
have Justice Department representation in court or congressional
inquiries, the officials said.

Here is more.  Thanks to an anonymous reader for the pointer.

Cyrus September 13, 2006 at 9:02 am

This brings a whole new dimension to the term, moral hazard.

Anderson September 13, 2006 at 10:02 am

What do economists think, I wonder, of the related question of insurability of punitive damages?

It’s difficult to square the intent of punitives with the ability to insure against them, but most states allow such insurance.

Ken Hirsch September 13, 2006 at 4:18 pm

This was also discussed on The Volokh Conspiracy. You should check out that blog sometime, Tyler. It seems right up your alley ;-)

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John Beck's Tax Foreclosures September 18, 2006 at 4:11 pm

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Tax Foreclosures September 18, 2006 at 4:15 pm

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CheeseCake March 4, 2011 at 8:20 am

I was just browsing the cheapestautoinsurance.net when I started reading this article. So CIA agents need a special insurance in case they are sued for illegal activities:)) That is funny because CIA agents should work under classified missions so no matter how you go, in order to present legal evidence in a lawsuit, you would have to get access to top secret information.

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